- Italy’s share of trade saw an increase this week with Tuscany rising to 13.1% and Piedmont increasing to 6.4%.
- Wines from Bordeaux, Burgundy and Tuscany were amongst the top-traded by value this week.
- This week, Liv-ex published two Market Updates covering pricing analysis of Harlan 2020 and Sassicaia 2021.
What’s happening in the secondary market?
The Rhône region, though holding the smallest portion of trade share, saw the largest increase in its market share by value out of the regions, rising from 2.7% to 4.5% this week. Contributors to this growth included wines from Château Rayas, Famille Perrin and Domaine du Pegau.
Italy also saw positive momentum, with Tuscany increasing from 10.8% to 13.1%. Biondi-Santi was the most popular for the region this week, contributing 61.0% of Tuscan trade. Other popular producers included San Guido and Antinori. Piedmont experienced a rise from 5.1% to 6.4%, with Gaja and Roberto Voerzio wines amongst the popular choices.
Bordeaux saw a slight increase in its trade share this week, climbing to 41.3% from 40.1%. The region was buoyed by activity surrounding Château Cheval Blanc, accounting for 15.3% of Bordeaux trade, as well as Château Mouton Rothschild (10.3%) and Château Lafite Rothschild (9.3%).
On the other hand, Burgundy saw the largest decline in trade share, decreasing from 21.3% to 15.3%, despite significant trades like Domaine Leroy, Vosne-Romanee Premier Cru, Les Beaux Monts 2009.
Champagne also experienced a dip in trade share by value, falling from 8.7% to 8.1% for the week.
What were this week’s top-traded wines?
As mentioned earlier, Biondi-Santi significantly contributed to the rise in Tuscany’s trade share by value this week. The 1998 vintage of Biondi-Santi, Brunello di Montalcino, Riserva secured the top spot on the list this week for the most traded wine by value. The wine made its debut on the exchange with a trade value of £3,380 per case.
In addition to Biondi-Santi, three Bordeaux wines secured positions among the top-traded wines by value: Château Cheval Blanc 2010, Château Lafite Rothschild 2016 and Château Beychevelle 2019.
Château Cheval Blanc 2010 last traded at £8,000 per case, reflecting an 18.4% decrease from its initial release price of £9,800 per 12×75. Notably, the wine scored 100 points from Lisa Perrotti-Brown, and her scores have a 65.3% correlation with the wine.
Despite its current trading value being below both the release price and the Market Price of £8,800 per case, the 2010 vintage is positioned significantly above the line identified as Fair Value, as shown below. In comparison, the 2015 vintage which shares the same 100 point score, is situated directly on the Fair Value line, with its Market Price of £6,500 per case.
Fellow Bordeaux Château Lafite Rothschild 2016 also claimed a spot on the top-traded list. The wine last traded at £6,950 per case. A few days prior to this, the wine traded at £5,840 per 12×75, approaching its recent lowest trade price of £5,332 per case. The wine received 98 points from Lisa Perrotti-Brown and 97 points from Neal Martin.
Château Lafite Rothschild 2016 trades on Liv-ex
Château Beychevelle secured a position in both the top-traded list by value and volume, with its 2019 vintage earning a spot in both categories. Upon its release at £658 per case, the 2019 vintage stood out as the most affordable Beychevelle on the market. Its recent trade at £836 per case reflects a 27.1% increase from its initial release price.
Similarly, the 2021 vintage, released at £706 per case, initially represented the best value Beychevelle on the market. Over time, it has seen an appreciation of 13.9%, reaching a last trade price of £804 per case.
Weekly insights recap
This week, Liv-ex published Market Updates for members covering pricing analysis of Harlan 2020 and Sassicaia 2021.
Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real-time activity of Liv-ex’s 620+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 20,000 wines.
